Congratulations on becoming parents in a few months, we all know that this is one of the most beautiful times that a couple spends together. Having a baby is a job and a full-time responsibility that you as a couple are about to take on. However, with bigger responsibilities come bigger bills that must be taken care of as a new life is coming into your loving family.
We understand the pressure a parent goes through and especially a mother who is about to carry the little one in her womb for the next 9 months. A working mother must think a lot about herself and the work that is doing to make her career strong and promising. Nevertheless, companies these days provide maternity leaves to mothers but understanding the leaves and remaining financially stable during the time of unpaid leaves is something that must be taken care of.
We have some of the best ways in which you can save and remain financially stable during maternity leaves.
When Can You Take Maternity Leave
To start with you must know when can you take your leaves and start resting for the baby is about to enter this beautiful world. Understanding your leaves, payments, and coming back to office policy is a must. India is of the sixteen stops amongst the nation that allow their working ladies the longest paid leaves for their maternity period. The former leave period of 12 weeks has been changed and now a pregnant woman can get 26 weeks after India’s Ministry of Labour made a great amendment to the Maternity Benefit Act, of 1961.
Know Your Company Benefits
Knowing the benefits that your company offers is a start to understanding how you must go about financial management in these times. Different companies come up with different benefits for their employees when they are about to enter motherhood. One must know about the disadvantages and perks you must be a part of the organization you are. Before signing up for the leave understand each advantage and policy that follows with it.
Estimation of Your Savings
While you have planned a baby who is about to enter the world, we are sure that you know where you stand financially and have made the plans already for the coming newborn in your family. We suggest you understand and go through your savings again to not land up in any problems if a situation that demands money occurs.
Doctor charges, pediatricians, childbirth, and many other factors all demand a good amount of money, and you should have enough savings to stand tall in all these situations. One of the easiest ways to save money is to open an online bank account with zero balance since you earn good interest and can withdraw all of it when the time comes without worrying about minimum balance charges.
Explore Additional Income Opportunities
Having an additional income is something that you can look forward to and earn some money. freelancing works like editing, writing, and designing can help you get some extra money that can be spent or saved for future use. This money can also be saved in a savings account that will help you earn interest too and maintain your financial balance that might shift because of unpaid leaves.
Final Thoughts
Want to know more about what you can do during maternity leaves to save and invest smartly? Learn more about the best investment and saving ideas to secure your and your kid’s future.
